Sunday, April 21, 2013

Chapter 14 - U.S. Government reporting

Describe one of the six basic financial statements of the U.S. Government.

3 comments:

  1. One of the basic financial statements of the U.S. government is the Statement of Changes in Cash Balance from Unified Budget and Other Activities. It shows the relationship between cash-basis budget deficit and the change in the federal government's operating cash balance.

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  2. Another statement of the U.S. Government is the Reconciliation of Net Operating Cost and Unified Budget Deficit. This reconciles the net operating result (revenue or cost) from the Statement of Operations and Changes in Net Position with the cash based federal budget.

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  3. A third statement is The Statement of Changes in Cash Balance from Unified Budget and other Activities shows the relationship between the cash-based budget deficit and the change in the federal government's operating cash balance.

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